Mumbai: Reliance Industries will hold its 46th annual general meeting on Monday, August 28. Analysts are expecting some crucial announcement during the AGM from RIL chairman Mukesh Ambani like initial public offering by Reliance Group's retail and telecommunication businesses as well as an update on the pace and direction of investments in the new energy segment.
Last week RIL announced Rs 8,278 cr inves-tment by Qatar Invest-ment Authority (QIA) in Reliance Retail Ventures Ltd (RRVL),the holding company for all retail businesses of Reliance Industries for a minority stake of 0.99 per cent stake at a valuation of Rs 8.278 lakh crore approximately.
“Reports suggest that during the Reliance AGM, there might be announcements about updates regarding the IPO timelines for its telecom and retail businesses, the progress of 5G rollout, a comprehensive roadmap for JioAir Fiber, and investments in clean energy businesses,” said Pravesh Gour, senior technical analyst, Swastika Investmart.
The eagerly awaited Reliance AGM is poised to have some impact on the market's trajectory. Expectations are high as Reliance Industries is anticipated to unveil a series of announcements during its 46th AGM, said another analyst.
New Energy segment to be the focus of investments over the next few years, said a note by ICICI Securities on RIL's annual report a few weeks back.
“Multiple investments in the new energy segment are starting to play out gradually. The upcoming AGM should provide some update,” ICICI Securities further said.
